TonyK
CibbuanoPort posts profit
December 7th 2006 02:00
Port Adelaide has bounced back from the biggest operating loss in the club's history last year to post a profit of $326,036.
This year's result follows an announced consolidated loss prior to SANFL sub-licence distribution of $514,723 last year.
The result reflects some very positive developments over the past year including increased sponsorship revenue and the development of SuiteOne, the club’s new state-of-the-art corporate facility.
Port Adelaide president Greg Boulton said the result was a positive one but conceded that the club still had work to do.
"2006 represents a solid year for the Port Adelaide Football Club off the field with some real positives including increased sponsorship revenue and the building of SuiteOne," Boulton said.
"We are confident the very good work chief executive John James and his team have done in 2006, particularly in the corporate area, will be reflected in future financial results."
Boulton said while the club's operating costs have been kept tightly under control, it will not compromise its football programme.
"Our operating costs have been kept tightly under control, however we continued to invest in our support structure for football," Boulton said.
"Injuries and a commitment to develop our playing list resulted in a great blend of experience and youth playing out the season.
"This impacted significantly on our financial position but provided many positives for the club with the development of our younger players."
Boulton said that the club’s net asset position remained strong at $4.7 million.
The club's reported profit is prior to paying its $320,000 SANFL sub-licence distribution.
This year's result follows an announced consolidated loss prior to SANFL sub-licence distribution of $514,723 last year.
The result reflects some very positive developments over the past year including increased sponsorship revenue and the development of SuiteOne, the club’s new state-of-the-art corporate facility.
Port Adelaide president Greg Boulton said the result was a positive one but conceded that the club still had work to do.
"2006 represents a solid year for the Port Adelaide Football Club off the field with some real positives including increased sponsorship revenue and the building of SuiteOne," Boulton said.
"We are confident the very good work chief executive John James and his team have done in 2006, particularly in the corporate area, will be reflected in future financial results."
Boulton said while the club's operating costs have been kept tightly under control, it will not compromise its football programme.
"Our operating costs have been kept tightly under control, however we continued to invest in our support structure for football," Boulton said.
"Injuries and a commitment to develop our playing list resulted in a great blend of experience and youth playing out the season.
"This impacted significantly on our financial position but provided many positives for the club with the development of our younger players."
Boulton said that the club’s net asset position remained strong at $4.7 million.
The club's reported profit is prior to paying its $320,000 SANFL sub-licence distribution.
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